Andrew Cavaghan - 02 Apr 2026 Form 4 Insider Report for Blue Gold Ltd (BGL)

Reporting relationship: CEO and Director, Director
Issuer ticker: BGL
Reported as of: 02 Apr 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 06 Apr 2026, 21:45:02 UTC
Prior SEC filing: 18 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Carla Parsons, Attorney-in-Fact

Key filing fact

Andrew Cavaghan filed Form 4 for Blue Gold Ltd (BGL) on 06 Apr 2026.

Key facts

This page summarizes Andrew Cavaghan's Form 4 filing for Blue Gold Ltd (BGL).
3 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 06 Apr 2026, 21:45.

Change

Previous filing in this sequence was filed on 18 Mar 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0002076016 Primary reporting owner

Cavaghan Andrew

Relationship: CEO and Director, Director
Address: C/O BLUE GOLD LIMITED, 94 SOLARIS AVENUE, CAMANA BAY, CAYMAN ISLANDS
Signature: /s/ Carla Parsons, Attorney-in-Fact
Signature date: 06 Apr 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BGL transaction

Class A ordinary shares

Award

Transaction value
Shares: +157,500
Change %
Price: $0.000000^*
Shares after: 157,500
Date: 02 Apr 2026
Ownership: Direct
Footnotes: F4

BGL transaction

Class A ordinary shares

Award

Transaction value
Shares: +890,000
Change %
Price: $0.000000^*
Shares after: 890,000
Date: 02 Apr 2026
Ownership: Direct
Footnotes: F5

BGL transaction

Class A ordinary shares

Award

Transaction value
Shares: +1,400,000
Change %
Price: $0.000000^*
Shares after: 1,400,000
Date: 02 Apr 2026
Ownership: Direct
Footnotes: F6

BGL holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 2,631,965
Date: 02 Apr 2026
Ownership: By Pegasus Capital Limited, the Reporting Person's corporation.
Footnotes: F1

BGL holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 6,780
Date: 02 Apr 2026
Ownership: By Pegasus Capital Holdings Limited, the Reporting Person's corporation.
Footnotes: F2

BGL holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 350,000
Date: 02 Apr 2026
Ownership: By Blue Gold Holdings Limited, the Reporting Person's corporation.
Footnotes: F3

BGL holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,738
Date: 02 Apr 2026
Ownership: By Spouse.

BGL holding

Class A ordinary shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 995,484
Date: 02 Apr 2026
Ownership: Direct

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

Reporting Person is the sole owner of Pegasus Capital Limited and as such has sole voting and dispositive power with respect to such shares.

Footnote F2

6,780 shares of the Company's Class A Ordinary Shares are owned by Pegasus Capital Holdings Limited, or PCHL. The Reporting Person is a 50% shareholder of PCHL, and, as such, has voting and dispositive power over such shares.

Footnote F3

Reporting Person is the sole director of Blue Gold Holdings Limited, or BGHL, and as such is deemed to have beneficial ownership of the 350,000 Class A ordinary shares held by BGHL.

Footnote F4

Represents fully vested Class A Ordinary Shares granted to the Reporting Person pursuant to the Issuer's 2025 Equity Incentive Plan (the "Plan").

Footnote F5

Represents restricted Class A Ordinary Shares (the "Restricted Shares") granted to the Reporting Person pursuant to the Plan. The Restricted Shares will vest on a daily basis over the following schedule: (i) 390,000 in financial year 2026, (ii) 240,000 in financial year 2027, (iii) 175,000 in financial year 2028 and (iv) 85,000 in financial year 2029.

Footnote F6

Represents Restricted Shares granted to the Reporting Person pursuant to the Plan. 600,000 of the Restricted Shares will vest when the volume-weighted average price of the Issuer's Class A Ordinary Shares over any sixty (60) trading day period within the precedent ninety (90) consecutive trading days period is greater than or equal to $15 per Class A Ordinary Share. 800,000 of the Restricted Shares will vest when the volume-weighted average price of the Issuer's Class A Ordinary Shares over any sixty (60) trading day period within the precedent ninety (90) consecutive trading days period is greater than or equal to $35 per Class A Ordinary Share.

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